Amit,Balan and Chander were partners in afirm sharing profits in the proportionof 1/2,1/3, and 1/6 respectively.Chander retired on 1st April.The balance sheet of the firm on the date of Chander's retirement
was below:


It was agreed that i)Goodwill be valued at 27.000.
ii)Depreciation of was to be provided on Machinery
iii)Patents were to be reduced by 20%.
iv)Liability on account of Provident Fund was estimated at 2,400.
v).Chander took over Investments for 15,800
vi)Amit and Balan decided to adjust their capitals in proportion To their profit-sharing ratio by opening current Accounts.